12th Apr 2016 06:39
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd on Tuesday said a USD15.0 million gross payment has been received from the Kurdistan Regional Government in Iraq for Shaikan crude oil exports in March.
Gulf Keystone said the payment comprises its monthly contractual revenue under the production sharing contract for Shaikan, plus payments the company is owed from past deliveries and to cover previous costs Gulf Keystone had incurred.
Following the new payment, Gulf Keystone said its current cash position is USD69.5 million.
Fellow London-listed Genel Energy PLC also reported Tuesday receiving payment from the Kurdistan government.
By Sam Unsted; [email protected]; @SamUAtAlliance
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